Private investors buy minor metals as safe havens
My thanks to a subscriber for this brief
item from Reuters. Here is the opening:
LONDON, Nov 1 (Reuters) - Growing numbers of investors are turning to the minor metals market as a safe haven for their pension funds as gold and silver prices soar to record highs.
'We've always had a certain amount of interest from the rich in the Anglo-American sector. About four years ago it started to pick up within people with average wealth,' said Gunther Maassen of German trading firm Haines & Maassen.
David Fuller's view In bombed out markets, and minor metal miners certainly qualify, it usually pays to buy the shares rather than the metal, at least until the new cyclical bull trend is obvious to all. Also, there are unlikely to be any convenient, liquid ETFs for the actual metals, unlike for gold. Storage and transaction costs would be high. I regard minor metals shares as cheap option money at today's prices. Some are 150 percent or more off their early October lows but still way down on the year's highs.
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